Épisodes

  • Displacing The Incumbent with Risk Management Tools

    Displacing The Incumbent with Risk Management Tools
    Oct 18 2024
    In this episode of Power Producers Shoptalk, David Carothers interviews Dustin Boss, co-founder of Emerge Apps. Dustin discusses how his experience as a producer led him to develop a suite of technology tools for agents, including OSHA compliance and risk management software. He shares insights into how these tools can help agents offer more than just insurance by focusing on compliance, safety, and risk management. This episode highlights creative ways to approach middle-market clients and the importance of leveraging technology to differentiate from competitors. Key Points Non-Insurance Engagement Dustin emphasizes leading with value beyond insurance, such as compliance and safety solutions, to build deeper relationships with clients. Emerge Apps Suite Dustin's company offers several tools, including OSHA Logs and Automate Safety, that help agents open doors by providing compliance solutions, reducing client risks, and locking in retention. Innovative Sales Approach By working outside of traditional insurance renewal cycles and focusing on pain points like OSHA compliance, agents can subtly displace incumbent relationships and gain long-term clients. Customization and Real-Time Insights Tools like OSHA Logs allow agents to monitor clients' safety records in real-time, helping to prevent issues before they escalate into claims, which ultimately improves client retention. Future of Risk Management Emerge Apps continues to innovate with new products like Light Duty Works, aiming to offer comprehensive solutions for managing workplace safety and reducing claims. Connect with: David Carothers LinkedIn Dustin Boss LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Emerge Apps Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    1 h et 2 min
  • Lawson Condell - Enabling Producers with Riskbly

    Lawson Condell - Enabling Producers with Riskbly
    Oct 16 2024
    In this episode of Power Producers Podcast, David Carothers interviews Lawson Condell, founder of Riskbly, a platform designed for commercial insurance agents to streamline risk management services. Lawson shares his journey from the Air Force and sales roles at ADP and Oracle to founding Riskbly. He created Riskbly to address inefficiencies in the commercial insurance process by providing agents with a white-labeled, customizable platform for managing policy documents, safety videos, risk management programs, and real-time insights. Key Points Riskbly's Inspiration Lawson built Riskbly based on his experience in commercial insurance, aiming to simplify risk management and enhance communication between agents and clients through a unified platform. What Sets Riskbly Apart Riskbly is fully white-labeled and customizable, allowing agents to provide seamless risk management under their brand. It integrates policy documents, safety training, and HR resources in one platform, avoiding multiple systems. Real-Time Insights Agents can monitor clients' progress on risk management tasks in real time, ensuring proactive follow-up and ongoing support throughout the year, not just at renewals. Tailored Risk Management Programs Agents can assign specific programs to address client risks, such as safety or compliance issues, and track progress. This ensures clients follow through on risk reduction efforts. Adoption and Client Engagement Riskbly uses notifications, mobile access, and training content to drive client engagement. It can also be used as a prospecting tool by offering it to potential clients during the sales process. Future Plans Riskbly aims to integrate with other tech solutions and provide underwriters access to real-time client risk management data, potentially leading to better pricing and decisions. Connect with: David Carothers LinkedIn Lawson Condell LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Riskbly Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    31 min
  • Targeted Digital Leads

    Targeted Digital Leads
    Oct 11 2024
    This episode of the Power Producers Shoptalk, is focused on the use of digital marketing tools, specifically pixel tracking, retargeting, and video proposals, to enhance lead generation and sales conversions in the commercial insurance industry. The discussion emphasized the importance of quick follow-up on leads, the role of automation, and the critical need for a well-defined sales process when dealing with cold traffic. David Carothers and Chris Langille highlighted the use of pixels for tracking website visitors, remarketing strategies, and content creation to drive traffic to agency websites. The session also covered how personalized content, like blog posts and video proposals, can significantly boost sales, especially when paired with proper retargeting. The call provided examples of retargeting through platforms like Facebook and Google, using video proposals via tools such as QuoteVids, and building custom audiences to drive more relevant traffic to an agency’s services. It also touched on the value of organic content over paid traffic in building long-term customer relationships. Key Points: Sales Process Efficiency Quick follow-up is essential, especially for cold traffic. Agencies need a well-defined process for responding to leads immediately via phone or automation. Speed is key in converting cold leads into sales. Remarketing with Tracking Pixels Utilize tracking pixels (Facebook/Google) to retarget website visitors who don't complete a conversion. This helps keep your brand in front of potential clients and reduces overall advertising costs by focusing on people who’ve already shown interest. Personalized Video Proposals (QuoteVids) Use tools like QuoteVids to create and send personalized video proposals, allowing prospects to review quotes, download documents, and accept proposals. It improves client engagement and boosts closing rates by providing a more interactive experience. Content Marketing as a Lead Generator Long-form blog posts and relevant content attract organic traffic, generate leads, and provide value. Clients who engage with educational content are often higher-quality leads, as they've already built trust with your brand. Case Studies for Social Proof Showcasing real client success stories through digital case studies builds credibility. They provide proof of your expertise and effectiveness, encouraging new prospects to trust your services. Outsource Paid Advertising Paid ad campaigns require expertise. Agencies should focus on creating organic, value-driven content and leave the complexities of paid advertising, such as Google and Facebook ads, to professionals to maximize return on investment. Balanced Automation and Personal Touch Automating certain processes, like follow-ups, is important for efficiency, but maintaining a personal touch is key. Automation should not remove the human element, which is critical for building trust and strong client relationships. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Chris Langille LinkedIn Visit Websites: Power Producer Base Camp Advisor Evolved Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    59 min
  • Jim Matuga - Storytelling Meets AI

    Jim Matuga - Storytelling Meets AI
    Oct 9 2024
    In this episode of the Power Producers Podcast, David Carothers interviews Jim Matuga, the founder of Interaction Media and creator of StoryMaker, a SaaS platform that leverages AI to help agencies and producers tell compelling stories that drive sales. They dive into the importance of storytelling, content creation, and how to connect with customers on a deeper level by using generative AI. Key Points from the Discussion: Storytelling as a Sales Tool: Jim shares how most businesses communicate through features and benefits but miss the mark by not addressing the internal problems of their customers. A compelling story focused on the customer as the hero is what builds trust and connection. David adds that too many salespeople listen with the intent to respond rather than understand. Empathy, listening, and understanding are key elements that lead to trust and, eventually, sales. The Power of StoryMaker: Jim explains how StoryMaker automates the content creation process by utilizing a company's existing content and an AI-driven framework to craft 30-second pitches, emails, blog posts, social media content, and more. StoryMaker learns your business voice, saving time while keeping the messaging authentic. Jim discusses how he used StoryMaker to create his business’s story arc, and how it has been transformative for clients in various industries. AI in Marketing and Sales: Both David and Jim agree that AI, particularly generative AI, is one of the biggest technological transformations since the internet. AI tools like StoryMaker and ChatGPT allow businesses to create personalized, authentic content quickly, which can be tailored to the needs of different audiences. Efficiency and Accuracy in Content Creation: Jim highlights how StoryMaker allows non-writers, like insurance agents or other sales professionals, to create high-quality content without needing advanced writing skills. This includes emails, blog posts, and social media content—saving time while producing effective marketing materials. David shares his experience using AI to simplify complex insurance topics, explaining how ChatGPT helps him create content that resonates with audiences without overwhelming them with technical jargon. The Importance of Personalization: David emphasizes that the AI-generated content must match the salesperson's voice to ensure authenticity. Without this alignment, there’s a risk of disconnect between the content and the real person behind it, which can damage the trust built through inbound marketing. Responding to Emails Using AI: Jim introduces StoryMaker’s feature of crafting professional email responses, saving users time and ensuring their tone is appropriate, even in contentious situations. David highlights how this helps avoid emotionally charged or poorly worded responses that could hurt relationships. Connect with: David Carothers LinkedIn Jim Matuga LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial StoryMaker InnerAction Media Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    41 min
  • Grit and Determination What Sales Producers can Learn from Pete Rose

    Grit and Determination What Sales Producers can Learn from Pete Rose
    Oct 4 2024
    In this Power Producers Shop Talk, David Carothers reflects on his childhood idol, Pete Rose, and the profound impact Rose's grit, determination, and relentless hustle had not only on baseball but also on David's personal and professional life. The episode is bittersweet as David shares the news of Pete Rose's unexpected passing and then dives into how the lessons Rose embodied on the baseball field can be translated into the world of sales and commercial insurance. Key Points: Hustle is Key: Rose's relentless effort on the field mirrors the importance of going the extra mile in sales—whether it's making that extra call, writing a personal note, or preparing for every meeting. Outwork the Competition: Hard work beats talent when talent doesn’t work hard. In sales, consistent effort will outlast those who rely on natural ability alone. Consistency Wins: Success isn’t about one big deal but the steady effort of prospecting, follow-up, and building relationships over time. Prepare Like a Pro: Just as Rose prepared for every game, sales producers should thoroughly prepare for meetings and tailor their approach to each client. Track Progress: Measure your efforts to ensure growth. Whether in fitness or sales, tracking helps adjust tactics for better results. Relentless Follow-Up: Like Rose’s persistence, continuous follow-up and engagement are critical to closing deals. Be Versatile: Adaptability is key—tailor your approach to each client and stay informed on industry trends. Resilience and Grit: Rose’s career had ups and downs, but his grit kept him going. Sales requires the same resilience to push through challenges and rejection. Integrity Matters: Ambition is important, but trust and ethics must never be compromised in sales. Continuous Learning: Always strive to improve—learning new skills and staying updated on trends will give you an edge in sales. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    28 min
  • From Courtroom to Cyber Carrier with Michael Phillips

    From Courtroom to Cyber Carrier with Michael Phillips
    Oct 2 2024
    In this Power Producers Podcast episode, David Carothers speaks with Michael Phillips, who leads the U.S. cyber underwriting practice at CFC. They discuss the state of the cyber insurance marketplace, the evolving risks businesses face due to cyber threats, and how insurers like CFC are addressing these risks. Michael highlights the importance of understanding the continually changing nature of cybercrime, particularly as it relates to geopolitical tensions and the rise of offensive cyber operations. They delve into the role of insurance in providing not just financial coverage but also emergency response services to businesses of all sizes. Key Points Cyber Market Evolution: CFC has remained a leader in the evolving cyber insurance space, focusing on emerging risks and staying consistent even as the market fluctuates. Sales Enablement: Agents need better tools to educate clients on cyber risks. CFC provides resources like benchmarking, ransomware calculators, and case studies to help overcome sales objections. Comprehensive Cyber Coverage: Agents have a duty to offer sufficient cyber coverage. Failure to do so can have severe consequences for both the client and the agent’s liability. Cyber Underwriting Challenges: Cyber threats constantly evolve, requiring thorough underwriting. CFC uses tech like vulnerability scanning to offer accurate coverage. MSP Partnerships: Partnering with managed service providers helps bridge the gap between cybersecurity and cyber insurance, benefiting both agents and clients. Proactive Services: CFC offers proactive incident response and threat monitoring to help businesses mitigate cyber risks before they escalate. Overcoming Objections: Agents should lead with education and real-world examples to help clients understand the true costs of cyber risks and why insurance is essential. Connect with: David Carothers LinkedIn Michael Phillips LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp CFC Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    54 min
  • The Delicate Balance for Producers

    The Delicate Balance for Producers
    Sep 27 2024
    In this episode of Power Producer Shop Talk, David Carothers delves into the critical balance that commercial insurance agents must maintain between fulfilling their "duty to offer" and avoiding the appearance of overselling. David emphasizes the importance of educating clients on this duty, particularly in areas like cyber liability, where underinsurance can leave clients highly exposed. The discussion highlights the professional responsibility of agents to offer adequate coverage that matches clients’ risks, ensuring they fully understand and sign off on any rejection of recommended limits. He points out that failing to do this not only opens agents up to potential errors and omissions (E&O) claims but also damages their reputation. David also touches on the significance of empathy in client relationships, noting that many clients are unaware of the broader factors that influence their premiums, like reinsurance and geography. He advocates for transparent education and tailoring the conversation in a way that clients, who may not speak the language of insurance, can fully grasp. He concludes by encouraging agents to embrace their role as educators and advisors, leading with empathy and focusing on managing clients' exposures rather than just selling policies. By doing this, agents can improve their close rates and long-term client relationships. Key Points: Duty to Offer vs. Overselling: Agents have a professional obligation to offer appropriate coverage and ensure clients understand their risks. It's crucial to offer proper limits without appearing pushy, especially in areas like cyber liability where under-coverage can leave clients vulnerable. Transparency and Risk Management: Educate clients about their risk exposures and offer a range of options, from self-insurance to risk management strategies, so they can make informed decisions. Encourage clients to take calculated risks, but document their decisions carefully to avoid E&O issues. Simplifying Complex Concepts: Using tools like ChatGPT to rephrase complicated insurance terms in simpler language helps clients feel informed and comfortable. Educate clients about market conditions and why their rates might increase. Empathy and Relationship Building: Be empathetic and share personal experiences, such as facing similar rate hikes, to humanize the conversation and build trust. Focus on solving client problems, not just selling insurance products. Use of Technology: Tools like video presentations make it easier for clients to understand complex information and share it with others, helping build transparency and trust. Connect with: David Carothers LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    19 min
  • A Servant's Heart of Social Services with Daryl Henry

    A Servant's Heart of Social Services with Daryl Henry
    Sep 25 2024
    In this episode of the Power Producers Podcast, David Carothers speaks with Daryl Henry, a Certified Insurance Counselor and Certified Risk Manager from Bitner Henry Insurance Group, a fourth-generation family business. Daryl shares his unique journey into the insurance industry, discussing the influence of his family’s dual legacy in insurance and mission work. He talks about his focus on serving human services organizations, particularly children's homes and other social services sectors, emphasizing the importance of empathy, understanding client needs, and building relationships. Daryl also shares the challenge and reward of building expertise in a niche market, discussing his transition from working with small businesses to focusing on human services. He delves into the importance of continuous learning, having read textbooks on human service organizations and learning the specific needs of these vulnerable industries. The episode also highlights the power of storytelling in connecting with clients and how insurance is ultimately a business about people, not just policies. Key Points: Finding a Niche: Daryl focuses on underserved sectors like social services, where there’s less competition but immense opportunity. Storytelling in Sales: Building personal connections and telling clients’ stories helps foster trust and long-term relationships. Daryl emphasizes understanding clients’ needs rather than pushing products. Education & Expertise: Constant self-education, especially in niche markets, is vital. Daryl recommends reading and researching to better serve clients. Technology & Simplifying Jargon: David suggests using tools like ChatGPT to break down complex insurance jargon, making it easier for clients to understand. Problem-Solving Approach: Focus on solving clients' problems, not just selling policies. Building a consultative relationship ensures clients trust you beyond insurance. Connect with: David Carothers LinkedIn Daryl Henry LinkedIn Kyle Houck LinkedIn Visit Websites: Power Producer Base Camp Bitner Henry Insurance Group Killing Commercial Crushing Content Power Producers Podcast Policytee The Dirty 130 The Extra 2 Minutes
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    52 min